Questions from Business Mathematics

Q: How much will it cost in Canadian dollars to purchase 2000 pesos

How much will it cost in Canadian dollars to purchase 2000 pesos in Mexican currency at a bank that charges a 3.5% commission on the transaction? Use an exchange rate of C$1.00 = Mexican peso 12.28.

Q: How much will it cost (in Canadian funds) to purchase

How much will it cost (in Canadian funds) to purchase £2000 worth of travellers cheques if the commission rate for this quantity of cheques is 0.5%?

Q: Heinz returned from a holiday in Germany with €235. How

Heinz returned from a holiday in Germany with €235. How much will he receive from his bank when he converts the currency back to Canadian dollars? The bank charges a 1.6% service charge for the transa...

Q: Keiko arrived in Oshawa to study English at Durham College. She

Keiko arrived in Oshawa to study English at Durham College. She used travellers cheques totalling ¥1,000,000 to open a Canadian-dollar bank account. What will her opening balance be if the bank charge...

Q: Kevin lives in Calgary and wants to buy a 2016 Corvette.

Kevin lives in Calgary and wants to buy a 2016 Corvette. The best price he can find for a low-mileage model in Alberta is $59,000. (No GST would be payable on this private sale.) Through autotrader.co...

Q: In October of 2018, Marielle bought 1200 shares of Yakamura Trading

In October of 2018, Marielle bought 1200 shares of Yakamura Trading Co. on the Tokyo Stock Exchange at a price of ¥1150 per share. The exchange rate at the time was ¥80.96 per C$. She sold the stock f...

Q: use the currency exchange rates in Table (reproduced below) to

use the currency exchange rates in Table (reproduced below) to calculate the equivalent amounts of currencies. Given Amount = £123.50 Equivalent amount = €

Q: The following table presents the mid-rates, the Royal Bank’s

The following table presents the mid-rates, the Royal Bank’s buy and sell rates, and ICE Currency Exchange’s buy and sell rates (at their Vancouver International Ai...

Q: Based on the exchange rates in the table in Problem 20,

Based on the exchange rates in the table in Problem 20, how many more British pounds can you obtain with C$2000 at the Royal Bank than at ICE? On any currency exchange transaction, ICE applies a C$3.5...

Q: A 10-year licence to distribute a product should increase the

A 10-year licence to distribute a product should increase the distributor’s profit by $10,000 per year. If the licence can be acquired for $66,000, what is the investment’s IRR?